Yinchuan Yucheng Investment Co., Ltd and Yinchuan Industrial Fund Management Co., Ltd. entered into an agreement to acquire 50.2% stake in Selen Composite Materials Technology Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd. for approximately CNY 200 million.
October 19, 2020
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Yinchuan Yucheng Investment Co., Ltd and Yinchuan Industrial Fund Management Co., Ltd. entered into an agreement to acquire 50.2% stake in Selen Composite Materials Technology (Changzhou) Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd. (SZSE:002341) for approximately CNY 200 million on October 18, 2020. Yinchuan Yucheng Investment Co., Ltd will acquire 24.97% stake and Yinchuan Industrial Fund Management Co., Ltd. will acquire 25.23% stake in Selen Composite Materials Technology (Changzhou) Co., Ltd. In a related transaction, Selen Composite Materials Technology (Changzhou) Co., Ltd. will acquire other related assets of the aluminum-plastic film held by Shenzhen Selen Science & Technology Co., Ltd., including the net equity of Selen Materials Japan Co., Ltd., the equity goodwill of Selen Materials Japan Co., Ltd., and the expertise related to the aluminum-plastic film business. With intangible assets such as technology, Selen Composite Materials Technology (Changzhou) Co., Ltd. will become the only main body of Shenzhen Selen Science & Technology Co., Ltd.'s aluminum-plastic film business operations. For the year ending 2019, Selen Composite Materials Technology (Changzhou) Co., Ltd. reported CNY 1.16 billion, owner's equity of CNY 402.52 million, revenue of CNY 329.84 million, net loss of CNY 24.93 million. This transaction has been reviewed and approved at the sixteenth meeting of the Shenzhen Selen Science & Technology Co., Ltd.'s fifth directorate held on October 18, 2020.
Xinlun New Materials Co Ltd, formerly Shenzhen Selen Science & Technology Co Ltd is a company mainly engaged in the research and development, production and sales of functional materials. The Company operates four segments. Functional Materials segment is engaged in the production of new materials, including electronic functional materials business, photoelectric display materials business, new energy materials business and precision manufacturing business. Super Clean segment is engaged in the design, construction and maintenance of anti-static and clean room purification projects. Personal Protection segment is engaged in the production of various medical surgical masks, disposable medical protective masks and other protective articles. Precision Mold segment is engaged in the design, processing, production and sales of precision molds, which are used in food, daily chemical and medical industries.
Yinchuan Yucheng Investment Co., Ltd and Yinchuan Industrial Fund Management Co., Ltd. entered into an agreement to acquire 50.2% stake in Selen Composite Materials Technology Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd. for approximately CNY 200 million.
XINLUN NEW MATERIALS CO., LTD. 
